MGB Wealth Management LLC Has $1.05 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

MGB Wealth Management LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,573 shares of the business services provider’s stock after purchasing an additional 98 shares during the quarter. MGB Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moloney Securities Asset Management LLC bought a new stake in Automatic Data Processing in the 3rd quarter valued at about $209,000. Nomura Asset Management Co. Ltd. grew its stake in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $470,000. Dash Acquisitions Inc. raised its position in shares of Automatic Data Processing by 5.6% during the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after purchasing an additional 2,781 shares during the period. Finally, DRW Securities LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter worth $951,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ADP. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.3 %

ADP stock opened at $306.65 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The stock has a market cap of $124.95 billion, a P/E ratio of 31.98, a P/E/G ratio of 3.60 and a beta of 0.79. The stock’s fifty day simple moving average is $297.26 and its two-hundred day simple moving average is $287.71. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.